https://www.engineeringnews.co.za

Taseko extends copper price protection

8th July 2022

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

TSX- and LSE-listed Taseko Mines has extended its copper price protection with the acquisition of a copper collar for the first half of 2023 to secure a minimum price of $3.75/lb and a ceiling price of $4.72/lb for 30-million pounds of copper.

The collar was purchased in mid-June when the price of copper averaged $4.20/lb.

These new collars ensure a minimum copper price of $4/lb for 42-million pounds over the second half of the year.

At current copper prices, the outstanding contracts will provide about C$45-million of additional cash flow over the next year.

Taseko CEO and president Stuart McDonald comments that the company has been using a price protection strategy for the last ten years, which helps to protect its balance sheet from sudden downward moves in the copper price.

“With this price protection in place, and with the improvements in head grades and copper production from Gibraltar that we expect in the second half of this year, our balance sheet will remain strong as we prepare for construction of our Florence copper project,” he adds.

Florence is poised to become a large-scale commercial mining facility operating in Florence, Arizona that will produce more than one-billion pounds of high-quality copper cathode.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.052 0.832s - 140pq - 2rq
Subscribe Now